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May 10, 2021updated 13 May 2021 6:26am

MIC approves $2.5bn investment for Myanmar power plant

The Myanmar Investment Commission (MIC) has approved a $2.8bn investment for new projects in the country, including $2.5bn for the construction of a liquefied natural gas (LNG) power plant.

By Umesh Ellichipuram

The Myanmar Investment Commission (MIC) has approved a $2.8bn investment for new projects in the country, including $2.5bn for the construction of a liquefied natural gas (LNG) power plant.

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MIC announced the investment at a meeting chaired by State Administration Council member and MIC chairman, LieutenantGeneral Moe Myint Tun, along with other members of MIC.

MIC’s investment is expected to create 2,473 jobs in the region.

The electricity generated by the LNG plant will be completely sold in the domestic market. The project will support the country’s goal to supply fully nationwide electricity from the national grid by 2030.

In addition to 15 electricity generation projects, MIC has approved other projects in livestock, manufacturing and other services sectors.

It also said that by the end of last month, out of 51 countries investing in the country, Singapore, China and Thailand emerged as major investors.

Out of 12 business sectors in Myanmar, MIC said that the electric power sector received majority of the investments, with 26.57%.

This was followed by the oil and gas and manufacturing sectors, which accounted for 25.72% and 14.61% respectively.

Last July, a consortium of Marubeni, Sumitomo, Mitsui and Eden Group received a notice to proceed with an LNG power plant in Myanmar.

Myanmar’s Ministry of Electricity and Energy issued the notice for an LNG project in Thilawa, thereby granting exclusive rights to the four companies’ joint venture.

The notice covered development, operation and ownership rights for the 1,250MW LNG-fuelled thermal power plant and onshore LNG receiving, storage and regasification facility.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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